Alternative asset management firm Valkyrie Investments has announced the launch of a new exotic trust that includes Avalanche (AVAX), Binance (BNB), Terra (LUNA), Zilliqa (ZIL), Polygon (MATIC) and other Layer 1 cryptocurrencies.
CIO Steven McClurg says that the company's depth and breadth of cryptocurrency coverage make it possible to offer a product that tracks the value of a big basket of cryptocurrencies.
Unlike other investment products overseen by the company, the multi-coin fund is specifically focused on staking yields. Annual rewards are expected to reach roughly 6%.
London-based cryptocurrency custodian Copper Technologies will be responsible for safeguarding funds.
RelatedBank of England Urges Banks to Fund Bigger Scrutiny of Crypto
Bitcoin ETF
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